PRESS DIGEST-New York Times business news - 26

Wed Dec 26, 2012 6:30am GMT

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Dec 26 (Reuters) - The following are the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* A disruption at one of Amazon.com Inc's web service centers hit users of Netflix's streaming video service on Christmas Eve and was not fully resolved until Christmas Day, a Netflix spokesman said on Tuesday. ()

* The police said Tuesday that they had arrested a former official of a federal agency that manages state enterprises on charges of stealing $330 million in property, a theft noteworthy even by the standards of Russian public corruption. ()

* Quick action by President Obama and Congress could still help the economy escape the full impact of hundreds of billions in tax increases and automatic spending cuts set to take effect shortly after the last minutes of 2012 tick away next week.

But if the deadlock in Washington persists much longer than a few weeks, the consequences will quickly mount, economists warn. ()

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